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Smart rally in rupee
MUMBAI:
Overcoming early pressures, the rupee on Friday rallied smartly by nine paise to close at 45.68/69 a dollar, driven-up by strong exporter dollar sales and sustained foreign institutional investment inflows to extend the recovery-run to the second straight session.
In fairly active two-way trading at the interbank foreign exchange market, the rupee opened distinctly weak at 45.84/86 against Thursday's close of 45.77/78, but hit the day's peak of 45.66/67 on heavy exporter dollar sales, leading to unwinding of long positions by banks ahead of the weekend, dealers said. The rupee rallied by 3-1/2 paise on Thursday. — PTI
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